Keurig, the makers of the ubiquitous K-Cup and the single-serve brewing machine that once dominated the coffee market, isn’t doing so well lately.
In the months since the company released the Keurig 2.0, which only works with licensed pods, the company has been falling steadily out of public favor — and it probably doesn’t help that the machine’s inventor recently stated in an interview that he personally avoids using the Keurig system because it’s so terrible for the environment.
This week, the company’s stock fell 10 percent, and sales of Keurig machines and related products have fallen 23 percent in the first quarter compared to last year.
In fact, Keurig 2.0 is so unpopular that the company is planning to bring back the My K-Cup device so that customers can resume brewing their coffee of choice.
“I would tell you the other thing we heard loud and clear from the consumer, while a very small percent of consumers, a very vocal and intense, passionate consumer who really wanted the My K-cup back, what we learned is... that we want consumers to be able to brew every brand, any brand of coffee in their machine and bringing the My K-cup back allows that. We took the My K-cup away, and quite honestly, we’re wrong.”